Acme United (NYSE:ACU) Issues Quarterly Earnings Results

Acme United (NYSE:ACU) posted its earnings results on Friday. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03, reports. The firm had revenue of $44.96 million for the quarter, compared to analysts’ expectations of $48.50 million. Acme United had a net margin of 9.67% and a return on equity of 9.87%.

Acme United Stock Performance

Shares of ACU traded up $1.41 during mid-day trading on Monday, hitting $39.99. The stock had a trading volume of 20,137 shares, compared to its average volume of 24,379. Acme United has a 52 week low of $23.24 and a 52 week high of $50.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.54 and a quick ratio of 1.41. The business has a fifty day moving average price of $44.36 and a 200-day moving average price of $40.83. The firm has a market cap of $145.96 million, a P/E ratio of 16.56 and a beta of 0.74.

Acme United Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Thursday, March 28th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Wednesday, March 27th. Acme United’s dividend payout ratio is currently 12.50%.

Institutional Investors Weigh In On Acme United

Several institutional investors have recently added to or reduced their stakes in ACU. Diamond Hill Capital Management Inc. grew its position in shares of Acme United by 21.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 11,000 shares of the company’s stock valued at $329,000 after purchasing an additional 1,959 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Acme United by 17.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 14,620 shares of the company’s stock worth $627,000 after purchasing an additional 2,204 shares during the period. Evercore Wealth Management LLC purchased a new position in Acme United during the 4th quarter valued at about $219,000. Ritholtz Wealth Management bought a new stake in shares of Acme United during the fourth quarter valued at about $223,000. Finally, Moors & Cabot Inc. purchased a new stake in shares of Acme United in the third quarter worth about $239,000. 62.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ACU has been the topic of a number of recent analyst reports. TheStreet upgraded Acme United from a “c+” rating to a “b” rating in a report on Wednesday, February 14th. StockNews.com cut Acme United from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 1st.

About Acme United

Acme United Corporation supplies cutting, measuring, first aid, and sharpening products to the school, home, office, hardware, sporting goods, and industrial markets in the United States, Canada, Europe, and internationally. The company offers scissors, shears, knives, rulers, pencil sharpeners, paper trimmers, safety cutters, lettering products, glue guns, and other craft products under the Westcott brand name; and cutting tools under the Clauss brand.